Finance & Economics

How to build a more efficient business

Here’s how you can make your business more efficient


How to build a more efficient business. Source:

Business efficiency is important to help drive a business in the right direction. It can help boost productivity, reduce staff turnover, lower costs, and ultimately help a business hit targets and reach new heights. There are some really simple ways you can increase efficiency in your business, we’re going to take a look at some of the most effective solutions here.

1. Create a plan

Firstly, you should ensure you have a business plan which sets out the goals and aspirations of the company. Once you know what you want it to achieve and where you want it to go, this will help you set the foundations to achieving what you’ve planned.

2. Invest in technology

Technology is big assistance when it comes to being efficient. It can speed up processes and increase accuracy for workflows, meaning tasks can get done correctly and to a high standard the first time. This can save you money by reducing errors. If you run a fleet of vehicles, investing in digital walkaround checks can help ensure they are done correctly and timely.

3. Install telematics

It’s also a good idea to look into telematics as these can help boost efficiency on the road. Fleet tracking, for example, can bring with it a wealth of benefits that can save you time and money.

Some of the pros of getting the system installed on vehicles include:

  • Route optimization – helps you find the quickest and most efficient journey)
  • Real-time live tracking – you can see where a vehicle is which can help boost customer service. For example, if a vehicle is stuck in traffic.
  • Driver behavior – You can check that drivers are navigating the roads efficiently and safely.

4. Encourage communication

In 2020 many businesses had to find new ways for staff to communicate, whether it was through online chats, video calls, or emails. It’s important as you move forward as a business to find the best possible solution to communication:

  • Emails can take a little longer to get a response, and trying to explain a situation through text can sometimes mean wires get crossed.
  • Not everyone is always available for video calls.

Maybe consider having a morning and/or afternoon meeting to discuss any issues and then have a channel available to write any concerns in. Of course, if you work in an industry where you’re not working from home face-to-face communication is the easiest solution.

5. Minimize your meetings

Amazon has a very good policy when it comes to making meetings efficient. There are three golden rules to follow:

  • Begin the meeting with silence

This is the moment before the meeting where people will read memos prepared for the meeting in silence before discussing it. It means everyone is on the same page before the meeting starts.

  • No PowerPoint Presentations

Jeff Bezos, the founder of Amazon, has thrown PowerPoints out of the window and has said that they are not to be used in meetings. Instead, a structured memo is created with full detailed sentences rather than bullet points.

  • The pizza rule

If you’re wondering what pizza and meetings have in common, bear with us. This rule is rather clever, but basically, you shouldn’t have a meeting with more people than you can feed two pizzas with. So, if you’re looking at a meeting and you see three pizzas are needed for lunch, there are too many people in attendance.

Building a more efficient business doesn’t need lots of money being invested or time either, just simple, smart changes.


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